Michael Mueller's questions to Macerich Co (MAC) leadership • Q3 2024
Question
Michael Mueller from JPMorgan Chase & Co. asked a high-level question about whether there have been any notable changes in the interest from third-party capital for traditional regional malls since the beginning of the year.
Answer
President and CEO Jackson Hsieh responded that he found it encouraging that the buyer of The Oaks, an asset needing significant redevelopment, was able to secure debt financing. He viewed this as a compelling and positive sign for monetizing other similar assets, noting that this level of lender interest was not as evident when he started in March. He acknowledged that while there haven't been many trades of A+ centers, the capital flowing into B-level opportunities is a positive development.